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QuoteMedia Reports 5% Increase in Revenue for Q1 2010

^{Published on 2010-05-12 15:15:14 - Market Wire}
 

PHOENIX--([ BUSINESS WIRE ])--QuoteMedia, Inc. (OTCBB: QMCI), a leading provider of market data and financial applications, announced financial results for the three months ended March 31, 2010. These results reflect a 5% increase in first quarter revenues, to $2,003,003 from $1,910,824 in the comparative period in 2009.

"In view of the economic conditions confronting our industry, we are satisfied with our performance to date, and we believe that we continue to be on target to meet our long term objectives. We are looking forward to another positive growth year for QuoteMedia."

aWe are very pleased to see continued growth, despite the global economic downturn and the challenges facing the financial services sector, specifically,a says Keith Guelpa, President of QuoteMedia, Inc. aAs expected, these challenges have had a considerable impact on our revenue growth, and we expect to see this trend continue in the short term. In the latter half of this year, however, we expect to see improved revenue growth, as the projects and opportunities that are currently in development begin producing significant revenue streams.

aIn view of the economic conditions confronting our industry, we are satisfied with our performance to date, and we believe that we continue to be on target to meet our long term objectives. We are looking forward to another positive growth year for QuoteMedia.a

About QuoteMedia

QuoteMedia is a leading software developer and syndicator of financial market information and streaming financial data solutions to media, corporations, online brokerages and financial services companies. The Company licenses interactive stock research tools such as streaming real-time quotes, market research, news, charting, option chains, filings, corporate financials, insider reports, market indices, portfolio management systems, and data feeds. QuoteMedia provides data and services for companies such as the NASDAQ, the OTCBB, Dow Jones & Company, Sungard, Wells Fargo, Penson Worldwide, Broadridge Financial Systems, Ridge Clearing, Sterne Agee and Leach, Regal Securities, Scotia Capital, Southwest Securities, Forbes, Zecco Trading, Zacks Investment Research, General Electric, Dow Chemical, Business Wire, Kiplinger, FolioFN, Motorola, Frontline Technologies, Captivate Network, ChoiceTrade, Qtrade Financial, CNW Group, TradeFreedom, Gmarkets, Questrade, Schaeffer's Investment Research, WebFinance and others. For more information, please visit: [ www.quotemedia.com ].

Statements about QuoteMedia's future expectations, including future revenue, earnings, and transactions, as well as all other statements in the press release other than historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. QuoteMedia intends that such forward-looking statements be subject to the safe harbors created thereby. These statements involve risks and uncertainties that are identified from time to time in the company's SEC reports and filings, and are subject to change at any time. QuoteMedia's actual results and other corporate developments could differ materially from that which has been anticipated in such statements.